The government will provide details on how it is going to turn around the debt-riddled state plantation, Felda in White Paper in this parliamentary session, as stated by Datuk Seri Azmin Ali, the Economic Affairs Minister. Azmin has stated that the government has managed to identify the required action for managing the cashflow of Felda and also the debt issue in the next 2 years.
He has stated that they are going to table a detail oriented white paper report stating the steps which have been taken on the cashflow of Felda and also the financial recovery during this time. The government is pretty confident that they have identified the steps that are required. Moreover, they have a comprehensive action plan which will benefit the settler’s f Felda.
Azmin had answered PKR’s Pasir Gudang MP Hassan Abdul Karim and had reiterated the statement Tan Sri Megat Zaharuddin Megat Mohd Nor, the Felda chairman on how the government is going to truncate its debts.
Presently Felda has a very bad cashflow because of the RM8 billion continuing to June 2018. They are going to meet the financial institutions for restructuring the finance and it is expected that it will reduce the debt down to RM6.5 billion. Felda is also going to sell its non-strategic assets which include properties in Sarawak and London. Thus, they expect to secure around RM2 billion from the move.
Tuan Ibrahim Tuan Man, the Kubang Kerian MP has pointed out that several settlers haven’t received the payment on time. Azmin declared that he was not aware of the issue but had promised on investigating the matter.